EX-4.20 14 u98151exv4w20.txt 2001 PERFORMANCE CONTRACT BTW JIA CHENGZAO & CO. Exhibit 4.20 YEAR 2001 PERFORMANCE CONTRACT WITH CHIEF GEOLOGICAL ENGINEER OF PETROCHINA COMPANY LIMITED Offeree: Name: JIA, Chengzao Offeror: Name: HUANG, Yan Term of the Contract: January 1, 2001 to December 31, 2001 Title: Chief Geological Engineer of Title: President of PetroChina Company PetroChina Company Limited Limited Date of Execution: January, 2001 ("PetroChina")
INDICES KEY PERFORMANCE INDICES WEIGHT MEASUREMENT TARGET ACTUAL PERFORMANCE ------- ----------------------- ------ ----------- ------ ------------------ (KPI) Profits Indices Rate of return of the 20% % 20.87 invested capital of PetroChina Exploration and Production Company (ROI) Net income of PetroChina 5% In million RMB 41,470 (NI) Gross profit of PetroChina 35% In million RMB 59,110 Exploration and Production Company Operating Indices Unit exploration cost for 15% USD/barrel 1.34 oil and gas -of-equivalent ("BOE")
Rate of successful oil 10% % 45 well exploration projects Increase in exploitable 15% In thousand tons Oil: 83,270 oil and gas reserves In million cubic Gas: 57,000 meters
Indices to Be Put under Safety and environmental Accidents involving death Comprehensive performance Control protection 0.05 persons/million expressed in marks to be man-hours; reduced by 10 marks if exceeding target of the accidents involving economic index put under control. loss exceeding RMB 1 million = 0; environmental pollution accidents involving economic loss exceeding RMB 200,000 = 0.
Signature of Offeree: s/Jia Chengzao Signature of Offeror: s/Huang Yan -------------- -----------